Bicara Therapeutics (BCAX) reported second-quarter 2026 financial results and business updates, including planned leadership transitions and progress in its ficerafusp alfa development program.
The clinical-stage biopharmaceutical company posted a net loss of $55.4 million for the quarter ended June 30, 2026, compared with $27.4 million a year earlier. Cash, cash equivalents and marketable securities totaled $497.3 million as of June 30, 2026, and the company said its cash runway extends into the first half of 2029.
- Ryan Cohlhepp, currently president and chief operating officer, will become president and chief executive officer effective January 1, 2027.
- Claire Mazumdar will transition to vice chair of the board and serve as strategic advisor.
- Jenn Larson was appointed chief financial officer, effective August 12, 2026.
- Research and development expenses were $45.8 million in the second quarter, up from $24.8 million in the prior-year period.
- General and administrative expenses were $14.2 million, compared with $7.2 million a year earlier.
- Bicara said the FORTIFI-HN01 pivotal trial remains on track for substantial enrollment by year-end, with topline interim analysis results expected in mid-2027.
- The company initiated FORTIFI-FLEX, an alternate dosing study of ficerafusp alfa in combination with pembrolizumab.
$BCAX Insider Trading Activity
$BCAX insiders have traded $BCAX stock on the open market 36 times in the past 6 months. Of those trades, 1 have been purchases and 35 have been sales.
Here’s a breakdown of recent trading of $BCAX stock by insiders over the last 6 months:
- CAPITAL MANAGEMENT, L.P. RA purchased 300,000 shares for an estimated $4,800,000
- RYAN COHLHEPP (President and COO) has made 0 purchases and 12 sales selling 83,642 shares for an estimated $1,935,975.
- IVAN HYEP (Chief Financial Officer) has made 0 purchases and 8 sales selling 72,118 shares for an estimated $1,678,488.
- CLAIRE MAZUMDAR (Chief Executive Officer) has made 0 purchases and 11 sales selling 63,234 shares for an estimated $1,375,612.
- DAVID RABEN (Chief Medical Officer) has made 0 purchases and 4 sales selling 27,500 shares for an estimated $535,669.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$BCAX Hedge Fund Activity
We have seen 79 institutional investors add shares of $BCAX stock to their portfolio, and 62 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VESTAL POINT CAPITAL, LP added 1,850,000 shares (+51.7%) to their portfolio in Q1 2026, for an estimated $36,796,500
- DEEP TRACK CAPITAL, LP added 1,448,496 shares (+55.4%) to their portfolio in Q1 2026, for an estimated $28,810,585
- FMR LLC removed 1,246,294 shares (-37.2%) from their portfolio in Q1 2026, for an estimated $24,788,787
- ROYALTY PHARMA SUB-MANAGER, LLC added 1,125,000 shares (+89.1%) to their portfolio in Q1 2026, for an estimated $22,376,250
- ATLE FUND MANAGEMENT AB removed 1,023,977 shares (-87.5%) from their portfolio in Q2 2026, for an estimated $30,401,877
- BLACKROCK, INC. added 1,004,383 shares (+35.3%) to their portfolio in Q2 2026, for an estimated $29,820,131
- CITADEL ADVISORS LLC added 887,084 shares (+114.9%) to their portfolio in Q1 2026, for an estimated $17,644,100
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
